Florida Gets Bad Economic News

The unemployment rate in Florida has decreased slightly, but it is still higher than the national average, which according to the Department of Labor is 9 percent. Although Florida’s labor force increased by 14,000 from August to September, it is still down 26,000 from September of 2010. The state’s unemployment rate dropped a whopping one-tenth of 1 percent to 10.6 percent, after remaining fixed at 10.7 percent for three months. Individuals are considered unemployed after one no longer has an occupation, but is still looking for work. When people stop searching for work, for any reasons, they are no longer counted as ‘unemployed.’

Not only is Florida’s unemployment rate high, but consumer confidence seems to be going down. Chris McCarty, a director of the University of Florida’s Survey Research Center in the Bureau of Economic and Business Research said in a press release, “Consumer confidence continues to be in the doldrums, uncomfortably near record low levels here in Florida.” Unfortunately for Floridians, consumer confidence seems unstable, despite reports of minor economic progress in certain sectors.

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Florida Gets Bad Economic News - The Epoch Times - November 21, 2011